Grab said to be eyeing stake in AmBank.

$Grab Holdings(GRAB.US)$ is said to be looking to acquire a stake in AMMB Holdings Bhd (AmBank), and the sellers are likely to be the banking group’s two largest shareholders — Australia and New Zealand Banking Group Ltd (ANZ), which has a 21.68% stake, and Tan Sri Azman Hashim, who holds 11.83% equity interest — according to several persons familiar with the matter.

Interestingly, this potential stake acquisition comes at a time when a merger proposal is said to be on the table. Speculation is rife that AmBank and RHB Bank Bhd are possibly revisiting a merger proposal, as the former is seen as having started a new chapter after reaching a global settlement with the Ministry of Finance (MoF).